Insurance is like a spare tyre. You may not require it, but not having one is not an option.

Car Stolen You Deserve Insurance As Much As Anyone

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A crook nonchalantly approaches a car under the cover of pitch black darkness on a silent night. He does not have a crowbar with him. And he strides along with the poise of ownership. Without a noise or even a fragment of damage, the car is skilfully unlocked by the thief. He noiselessly gets in and drives away as silent as ever, without eliciting any alarms or destroying the car. And the owner wakes up to a car-less space.

Sounds like a common urban criminal tale or a scene copied from a Bollywood movie? Well, unfortunately it is rather a common occurrence. If life was totally foreseeable and safe, the notion insurance in all probability would never even have conceived. But you do not know what is going to happen around the corner, particularly when you are actually driving your car. This is precisely the reason why car insurance is no longer an option but mandatory as per the Indian law.

If you think about it, you might rather spend your hard-earned bucks on essentials, food, clothes, holidays or even savings than some dreary car insurance plan. It is one investment that you hope to never use. Yes, you worry less and sleep better, thanks to this ‘lackluster’ spend. For instance, car thieving is as old as cars itself. You might come out from a mall after shopping and find your car vanished or right from your garage. The situation is quite unpredictable and your immediate concern should be to curb the losses rather than chasing after an evasive thief.

Let us explore what are the pointers to keep in mind to get insurance for stolen car:

  • If your car gets stolen, an all-inclusive car insurance cover will take care of it, meaning full cost of the vehicle will be compensated for.
  • Evidently, the first thing to do is inform the police and file an FIR. Meanwhile inform your insurance company too (either by calling at their toll free number or dropping in at the nearest branch).
  • Submit copy of FIR, every document related to the car (receipt, premium papers, VIN) and photographs of the car at the claim desk.
  • When a stolen car is written off due to some reason by your insurer, you must be adequately recompensed permitting you to purchase a similar car on the open market. Insurance providers will generally try to fob you off with a market estimate. You have full right to demand an amount that enables you to get a replacement in the same manner in which you procured your original car.
  • If your car had a predominantly high value owing to its ideal condition, less mileage, safety device installation or other alterations, it will help if you can submit proof to that effect. Always keep printed records of your mileage, bill receipts and photos, as well as papers connecting to what you have disbursed and when and where.

Best Car Insurance Option for Stolen Cars in India

There are various car insurance policies offered by leading General Insurance providers, which offers coverage for insured vehicles that are stolen. Some of these insurance providers are:

  • ICICI Lombard Car Insurance
  • Bharti Axa Car Insurance
  • Bajaj Allianz Car Insurance
  • HDFC Ergo Car Insurance
  • Chola MS Car Insurance
  • Future Generali Car Insurance
  • IFFCO Tokio Car Insurance
  • L&T Car Insurance

Theft Claim Process for Stolen Cars

In the event of theft, the insurance holder must register the claim by calling the customer care center of the insurance provider. They will register the claim and assist you on the claims process and also provide you a claim reference number for further reference. You should also go to the nearest police station and file an FIR if your vehicle has been stolen. Most car insurance providers have a time limit for the same.

Documents Required for Theft Claims Process

  • Claim form that is filled and signed by the policy holder
  • The Motor Insurance Policy (Original)
  • Original Registration Certificate
  • The FIR filed at the police station
  • All the original keys to the vehicle
  • Original sales invoice of the car or the Tax receipt
  • Informing the theft to the RTO and signed transfer papers from the RTO with forms such as Form 29, Form 28, Form 30 and Form 35.
  • Indemnity Bond
  • Subrogation letter

Key Points to Remember While Making a Theft Claim

  • Make sure that your policy covers theft of the insured vehicle.
  • When you have come to know about the theft, immediately register a claim with your insurance provider.
  • You have to inform the police of the same and file an FIR. The same will be required at the time of documentation.
  • If you have not informed the police and the insurance provider in a timely manner, your claim can be rejected.

GST Update: GST of 18% is applicable on car insurance effective from the 1st of July, 2017

Car Stolen You Deserve Insurance As Much As Anyone Reviews

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  • Royal Sundaram Car Insurance
    "Average"
    0.5 3.0/5 "Satisfactory"
    I took my car insurance with Royal Sundaram. I never contacted the customer service. It is a default insurance from the showroom. The premium is high because I go for bumper to bumper offer, road side assistance, zeo dep. It is a first party insurance and no claim. The policy period is one year.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 19, 2019
  • SBI General Car Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    The showroom people has offered me a car insurance policy with SBI. I have made a premium amount of Rs. 22000. They have given me a coverage value of 100%. Total IDV value is 90% of the car value. I have no claim experience till now. The documentation process was done by showroom.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 19, 2019
  • National Insurance Car Insurance
    "Smart protection with National"
    0.5 4.0/5 "Great!"
    The major factor to chose National Insurance because of the premium is economic, I took the policy for 3 years the IDV value remains the same for the whole tenure. The customer support is good on time they activated the policy. I have Tata Tiago , its around four months vehicle. Its zero depreciation comprehensive plan. I taken the policy through showroom.
    Was this review helpful? 0
    , lucknow
    Reviewed on Jan 19, 2019
  • ICICI Lombard Car Insurance
    "Satisfied with the policy"
    0.5 5.0/5 "Blown Away!"
    My car insurance is with ICICI Lombard. The customer services are good and I got the policy documents on time. The policy coverage is good and there are features of a road side assistance is there. The premium is economical too. Good overall.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 19, 2019
  • ICICI Lombard Car Insurance
    "Need to reduce the premium"
    0.5 3.0/5 "Satisfactory"
    I had a car insurance from ICICI LOMBARD which was offered by the showroom at the time of purchasing the vehicle. I felt the insurance premium is very high compared to others. I got a reminder call from the customer service at the time of renewal. It has zero dep for one year.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 19, 2019
  • Tata AIG Car Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I took my car insurance from TATA AIG through online channel. They have given lesser premium with zero dep and it includes road side assistance. The customer service is very good. The policy period is one year. I have no claim experience. It is a first party insurance.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 19, 2019
  • Tata AIG Car Insurance
    "Satisfied policy"
    0.5 5.0/5 "Blown Away!"
    TATA AIG is the best company to take the car insurance. Since long time i have taken this insurance. The customer care people used to call me to renew the policy and they used to policy renewal letter. I will do payment through online. Several times i have claimed the policy and i have received very good response.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jan 18, 2019
  • Universal Sompo Car Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I had taken this insurance policy a long time back and it has been a good insurance policy. I had been paying the premium online and the payment method has been convenient. There has been a claim made once and the claiming method has been simple.
    Was this review helpful? 0
    , navi mumbai
    Reviewed on Jan 18, 2019
  • New India Car Insurance
    "Comprehensive benefit policy"
    0.5 5.0/5 "Blown Away!"
    My car insurance was taken from New India. I don't speak with their customer care since i don't require it. I had a claim experience which is a easy process without any tension. As per their policy, the maximum claim amount settled. Since they are providing good services i have opted this policy. They have given me a road side assistance and bumper to bumper facility.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 18, 2019
  • Bajaj Allianz Car Insurance
    "Good to Go with Bajaj"
    0.5 4.0/5 "Great!"
    The conditions and the insured which they are providing is good, I have insured Ford Car with Bajaj Allianz, the premium amount is reasonable but they can reduce it. Its 1.5 year old year but still the insurer providing 24 hours service, cash less garages and they have tie up with many centers, the response is great.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • ICICI Lombard Car Insurance
    "Premium should be standard as per market"
    0.5 4.0/5 "Great!"
    I never used the policy if something happen I claim it, I didn't interact with the customer care but I get the reminder message for car renewal. I have insured my maruthi Suzuki riz with ICICI Lombard, The premium is higher but still they are good.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 14, 2019
  • HDFC Ergo Car Insurance
    "Very good"
    0.5 5.0/5 "Blown Away!"
    Even my car was insured with HDFC Ergo. It is a second-end car and have chosen the third party insurance. I have not done any claim so far. The premium is reasonable. It offers bumper to bumper facility and road side assistance. The policy period is 2 years.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 14, 2019
  • Tata AIG Car Insurance
    "Good Insurer"
    0.5 5.0/5 "Blown Away!"
    My financier suggested the Tata Aig general insurance, the premium is economical for the car policy. I have honda amaze car it got insured with them. The insurance company is providing 24 hours service, cash less garages, brake down service for the tenure of four years. On time I got the papers from the Tata Aig.
    Was this review helpful? 1
    , tirupur
    Reviewed on Jan 10, 2019
  • Tata AIG Car Insurance
    "Good Insurer"
    0.5 5.0/5 "Blown Away!"
    My financier suggested the Tata Aig general insurance, the premium is economical for the car policy. I have honda amaze car it got insured with them. The insurance company is providing 24 hours service, cash less garages, brake down service for the tenure of four years. On time I got the papers from the Tata Aig.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 10, 2019
  • National Insurance Car Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I had taken this Insurance policy for my Maruti Car and i had been paying the premium on an annual basis. The premium amount has not been too high and there has been cash less garages available with this insurance policy. Their customer support has also been helpful at times.
    Was this review helpful? 1
    , pune
    Reviewed on Jan 09, 2019
  • ICICI Lombard Car Insurance
    "Nice Policy"
    0.5 4.0/5 "Great!"
    My car was insured with ICICI Lombard. Last year i have purchased this insurance policy. My wife has referred me about this policy. I pay the premium amount of Rs. 13500. They have given me a convenient IDV value. I had no claim experience so far.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 09, 2019
  • New India Car Insurance
    "Need to improve the service"
    0.5 3.0/5 "Satisfactory"
    I'm not satisfied with the service provided by new India. I have bought the car insurance policy. They closed their branch on every weekends hence its difficult to renew the policy. I have been paying the premium amount of Rs. 14000 which is a competitive price. They have given the IDV value of Rs. 1.50 lakhs.
    Was this review helpful? 0
    , mangalore
    Reviewed on Jan 09, 2019
  • New India Car Insurance
    "Average Car Insurance"
    0.5 3.0/5 "Satisfactory"
    My car insured with the New India Insurance company. I have been renewing the policy with the same company for 3 years. I have paid the premium amount of Rs. 7000 and they have offered me a satisfied coverage value. The documentation process was fine
    Was this review helpful? 0
    , mangalore
    Reviewed on Jan 09, 2019
  • review Car Insurance
    "Its Good"
    0.5 3.5/5 "Pretty good"
    Last year I had car policy with Bharthi axa whenever I try to renew it ask my poliy no, whenever I mention the same, it shows the its incorrect. If I try to reach the customer care its not reachable. I done the claim, some minor damage back side of the car, they have processing fee 1500. Remaining all taken care by the insurer.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 08, 2019
  • ICICI Lombard Car Insurance
    "Great Policy"
    0.5 4.0/5 "Great!"
    ICICI Lombard has a good brand value hence i have selected the car insurance policy with this card and the dealer has also recommended about this policy. I pay the premium amount of Rs. 9000 and this is a 100% coverage with bumper to bumper facility. I'm not sure about the IDV value. Its easy to renew the policy.
    Was this review helpful? 2
    , new delhi
    Reviewed on Jan 08, 2019
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